New Mexico Property Tax Rebate
The property tax rebate may not exceed $250 ($125 for a married taxpayer filing a separate return). There is no property tax rebate available for property that is not already subject to property tax.
To qualify for a rebate a claimant must: - Have a modified gross income of $16,000 or less; - Be age 65 or older on the last day of the tax year; - Be a resident of New Mexico during the tax year; - Be physically present in New Mexico for at least six months during the tax year; - Be neither eligible to be claimed nor actually claimed as a dependent of another taxpayer during the tax year and- Not be an inmate of a public institution for more than six months during the tax year.
The rebate is for property tax billed or for rent paid during the current tax year on the rebate claimant's principal place of residence in New Mexico.